Towers Watson Announces OneExchange, a Health Benefit Solution for Full- and Part-Time Employees, and Pre-65 and Medicare

  Towers Watson Announces OneExchange, a Health Benefit Solution for Full- and
  Part-Time Employees, and Pre-65 and Medicare Retirees

Combines the strengths of Extend Health’s exchange platform with Towers
Watson’s expertise in health benefit design and strategy

Business Wire

NEW YORK -- January 31, 2013

Towers Watson (NYSE, NASDAQ: TW), a global professional services company,
today announced the launch of OneExchange. Building on Towers Watson’s 2012
acquisition of Extend Health, OneExchange offers employers both private and
public exchange-based health insurance options for their full- and part-time
workers, and for all retirees.

OneExchange makes it easy for employers to manage the coverage, quality and
cost of private and public health plan choices for all segments of their
workforce and retiree populations through a single exchange platform.

“Starting in 2014, the Affordable Care Act establishes guaranteed issue and
standard plan designs for all individuals, and federal subsidies for those who
meet certain eligibility requirements,” said Bryce Williams, managing director
for Exchange Solutions at Towers Watson. “It also creates public exchanges, or
marketplaces, as a mechanism for individuals to obtain health plans.”

“Employers that decide an exchange is right for some or all of their workforce
and retirees can provide access to OneExchange and realize the benefits of
these regulatory changes,” said Williams. “They can use OneExchange to fund
and oversee the quality and cost of their health care coverage with the
counsel of a trusted and experienced advisor from a unified platform.”

Built on market-leading exchange platform

OneExchange builds on Extend Health’s market-leading health insurance exchange
platform to deliver proven, end-to-end and seamlessly integrated exchange
solutions:

  *Proven. Extend Health operates the nation’s largest private Medicare
    exchange, which has more than 250 employers, including 45 Fortune 500
    companies. Extend Health has helped more than 500,000 retirees select from
    thousands of private Medicare plans from more than 80 national and
    regional insurance companies. Licensed benefit advisors, using
    state-of-the art decision support tools and service center routing
    systems, have logged more than three million phone calls helping retirees
    choose coverage that fits their needs.
  *End to end. Services provided include end-to-end transition support from
    initial financial analysis for employers, to plan comparison, purchase and
    enrollment, and post-enrollment support and advocacy for individuals
    making coverage choices.
  *Seamlessly integrated. Advanced analytics and reporting tools help
    employers with strategic decision making and health coverage management
    for all plan holders.

“In the private Medicare market, Extend Health has met the broad benefit needs
of employers and consumers alike,” said Mark Maselli, managing director for
Towers Watson’s Health and Group Benefits business. “Employers’ health benefit
decisions must reflect their values and unique workforce needs. Those that
decide an exchange is right for any part of their organization will find
OneExchange’s diverse solutions compelling.”

The OneExchange solutions

OneExchange solutions available now include ExtendRetiree, which provides
transition assistance for Medicare-eligible retirees moving to an exchange.
This solution reflects the established market regulations and health plan
products that are available today.

Also available now for ExtendRetiree is BenefitView, a management dashboard
that gives employers real-time information about the progress of retirees as
they evaluate and choose plans.

Additional OneExchange solutions will be triggered by final regulations and
ACA health plan product offerings, as well as Towers Watson’s continued
efforts to drive innovation in the delivery of health care benefits. New
solutions will:

  *Connect challenging workforce segments such as pre-65 retirees and
    part-time, contract or seasonal workers to plans offered on public
    exchanges
  *Provide financial analysis, modeling tools and consulting to help
    employers decide whether to use private or public exchange solutions —
    and, if so, how they will deliver value for various segments of their
    populations
  *Enable employers to transition their full-time, active employees to
    exchanges offering individual health plans or group-based plans with
    features that engage participants in their health care decisions
  *Extend the BenefitView management dashboard to integrate analytics and
    reporting for all exchange solutions across all populations

Added Williams, “We expect the vast majority of employers to proceed
thoughtfully in leveraging ACA and private and public exchanges. To help guide
them, Towers Watson’s OneExchange offers a powerful combination of health care
strategy and exchange solutions expertise — no matter which path they choose.”

About Towers Watson

Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services
company that helps organizations improve performance through effective people,
risk and financial management. The company offers solutions in the areas of
benefits, talent management, rewards, and risk and capital management. Towers
Watson has 14,000 associates around the world and is located on the web at
towerswatson.com.

Forward-looking Statements

This document contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. You can identify these
statements and other forward-looking statements in this document by words such
as “may,” “will,” “would,” “expect,” “anticipate,” “believe,” “estimate,”
“plan,” “intend,” “continue” or similar words, expressions or the negative of
such terms or other comparable terminology. Such statements are based upon the
current beliefs and expectations of Towers Watson's management and are subject
to significant risks and uncertainties. Actual results may differ from those
set forth in the forward-looking statements.

The following factors, among others, could cause actual results to differ from
those set forth in the forward-looking statements: the risk that potential
changes in federal and state health care regulations, or future interpretation
of existing regulations, may have a material adverse impact on our business;
the risk that our Extend Health business fails to maintain good relationships
with insurance carriers, becomes dependent upon a limited number of insurance
carriers or fails to develop new insurance carrier relationships; the risk
that changes and developments in the health insurance system in the United
States could harm our business; our ability to respond to rapid technological
changes; and the risk that a significant or prolonged economic downturn could
have a material adverse effect on Towers Watson's business, financial
condition and results of operations. Additional risks and factors are
identified under “Risk Factors” in Towers Watson’s most recent Annual Report
on Form 10-K filed with the SEC.

You should not rely upon forward-looking statements as predictions of future
events because these statements are based on assumptions that may not come
true and are speculative by their nature. Towers Watson does not undertake an
obligation to update any of the forward-looking information included in this
document, whether as a result of new information, future events, changed
expectations or otherwise.

Contact:

Towers Watson
Media Contacts:
Rob Wyse, +1 212 920 1470
rob@wt221.com
or
Melanie Meharchand, +1 650 292 8717
melanie.meharchand@extendhealth.com
or
Binoli Savani, +1 703 258 7648
binoli.savani@towerswatson.com
 
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